Notes to SEFA
Title: Basis of Presentation:
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Redfield School District does not use the 10‐percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award
activity of Redfield School District No. 56‐4 under programs of the federal government for the year ended. The
information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal
Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for
Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations
of Redfield School District No. 56‐4, it is not intended to and does not present the financial position, changes
in net position, or cash flows of Redfield School District No. 56‐4.
Title: Summary of Significant Accounting Policies:
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Redfield School District does not use the 10‐percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement.
Title: Indirect Cost Rate:
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Redfield School District does not use the 10‐percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
Redfield School District does not use the 10‐percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
Title: Federal Reimbursements:
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Redfield School District does not use the 10‐percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
Federal reimbursements are not based upon specific expenditures. Therefore, the amounts reported here
represent cash received rather than federal expenditures.